You may be thinking the best approach to advertising in a time of low inventory is to reduce marketing spend. After all, you have fewer cars to sell, and demand seems to be high regardless.
However, unless new and used car sales are the only thing your dealership offers, this is a huge mistake.
While the inventory shortage is now poised to last into 2022, it won’t last forever, and the dealerships who are going to be remembered when it comes time for customers to purchase again or service their vehicles are the ones staying top of mind when others are hitting the brake pedal.
If you’re like most dealerships that survived 2020, you’ve already shifted some of your advertising focus from an emphasis on sales to reminding customers of other ways you are there for them, such as service.
Outsell’s article from earlier this spring, “4 Things Dealers Can Do Right Now to Succeed Despite Low Inventory,” is still the advice you should be following:
- Focus on Service
- Find More Trade-Ins
- Keep Your Customers Engaged
- Play the Long Game
Perhaps most important is #3: Keep Your Customers Engaged.
“Now more than ever, customers are going to defect if only because the higher prices on vehicles that have been more affected by the shortage will cause them to explore other options. To maintain engagement levels for unsold leads, you can change your messaging to focus more on brand awareness, lifestyle, and service content instead of focusing on urgent selling messages for models that are in low supply.”
Several dealership marketing staffers and vendors told Automotive News they aren’t slowing their advertising spending but tweaking their language to “why buy” messages, used vehicles, and fixed operations.
Don’t be forgotten when the inventory shortage stops. Remind consumers you are here for more than new car sales and stay top of mind when your customers need you most.